After a long period of stability - except for a slight decline in June - domestic scrap prices in Italy have decreased by about €10/mt this week. According to local scrap traders, Italian steelmakers, returning from the summer holidays, have succeeded in obtaining a decrease in spot prices, following the recent decrease in import scrap prices in Turkey.
"There is no other reason to think that scrap prices should decrease in Italy", said one of the sources, underlining that both production and sales by Italian steelmakers are still going very well. The same source believes that the situation will change as soon as Turkish buyers resume their scrap purchases.
For now, scrap spot prices have decreased slightly in the Italian domestic market, while it is not clear where they will settle in monthly contracts for September, as most negotiations will begin next week.
Average spot prices in the local Italian scrap market are as follows:
|
Quality |
Average spot price (€/mt) |
|
Turnings (E5) |
240-250 ($281-293/mt) |
|
HMS (E1/E3) |
265-275 ($310-322/mt) |
|
Shredded scrap (E40) |
295-300 ($345-351/mt) |
|
Busheling (E8) |
290-300 ($339-351/mt) |
Prices include delivery and exclude VAT.
€1 = $1.17